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Getting our ducks in a row

We learned so much from the recent estate planning session hosted by Summit Credit Union.  We want to thank the presenters Amy Crowe and Bob Nennig for sharing information and giving us a road map to get started.  

Imagine if you become incapacitated and a friend or family member has to step in and manage all of your finances?  How will they know when and where your paycheck gets deposited?  How will they pay your paper and on line bills?  If you die, who do they need to contact to cancel your gym membership or magazine subscription?  Leaving a good road map for the person who needs to take care of you and/or your estate is really essential.

We are using the Personal Inventory (copyright 2014 Summit Credit Union) that came with the seminar to build our estate roadmap.  It includes the following information:

Important people in your life to contact

  • Location of important documents, valuables, passwords and last instructions
  • Current income sources
  • Government/military benefits
  • Insurance policies
  • Financial assets
  • Employers/former employers
  • Companies you do business with 
  • Personal property and possessions 
  • Digital estate plan (ie:  what happens to your Facebook and online photo sharing libraries)
  • Intellectual property distribution 
  • Memberships and Subscriptions
  • Memorial Instructions
  • We are putting our Personal Inventory into an electronic file so we can keep it up to date.  

Takeaway for the Week

What is more important than we realized:   Setting a timeline for completing your estate plan.  And a budget.  

What is easier than we thought:  It is really satisfying to make an estate plan and put things in one place.  For now we are filling the estate planning binder we got at the meeting with our important documents.  Now are ducks are starting to line up.


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You know, I never thought about this. Good idea. (but not during the Packer game...)

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